Tenure

A right of holding or occupying land for a certain period of time.

Under the feudal system all land belonged to the king and was lent out to the lords.  The lords did not own the land but held tenure (a right) in the land.

The term is also used to refer to the position a person holds or occupies as in the expression 'tenure of office' e.g. a mayor holds office or tenure until the next election.

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